Photo by Anamul Rezwan on Pexels.com
India’s steel industry, the world’s second-largest, faces a looming threat as the EU ramps up carbon regulations with the Carbon Border Adjustment Mechanism (CBAM) starting in 2025, fully effective by 2034. With 25% of its steel exports destined for Europe, India risks steep penalties—up to $397 per tonne by 2034—due to its carbon-intensive production, per Rystad Energy.
This could erode its market edge, favoring competitors like South Korea and Turkey. Transitioning to greener tech like hydrogen is urgent but costly. Quote: “Reducing carbon emissions could become a competitive necessity as buyer sentiment evolves,” says Alistair Ramsay, Rystad Energy VP.
Read More News on Business News Malaysia
Read More News on Business News Malaysia
Senate passes Competition Bill 2026, boosting MyCC powers against cartels and monopolies, with merger control…
Anwar blames Felda’s RM10 billion losses on mismanagement and political interference, pledges reforms to protect…
AMRO upgrades Asean+3 growth to 4.1% in 2026, citing AI demand, but warns risks from…
Renewed US-Iran tensions have decreased vessel traffic in the Strait of Hormuz, impacting oil prices…
Sepang International Circuit may host a Formula One race with Bahrain potentially funding costs, reviving…
Overland pipelines help bypass Gulf blockades, but shipping delays and rising costs continue to strain…
This website uses cookies.